18 Burst results for "Heather Boucher"
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"Pellet. Amp Bloomberg world headquarters. We check markets all day long at Bloomberg a losing week handed down Friday on the week the S&P 500 Index was down four and a half percent. Today, a renewed bout of volatility rattle markets around the world as SVB financial groups turmoil spurred concern about the next shoe to drop at a time when the fed is deploying its most aggressive tightening campaign in a generation. Tiffany wilding is North American economist at pimco. The bottom line is it's a tough job for the fed right now. I think they kind of set out a plan for going 25 basis points to kind of weigh the different risks. They don't want to tighten too much, but they don't want to tighten too little. That still seems like a reasonable plan for me. Him co's Tiffany wilding, White House reaction to the jobs report from Heather Boucher, a member of the president's council of economic advisers. We've seen steady job gains, not as hot as January, but certainly at a steady pace down from where they were, certainly a year ago, about half as many jobs being created on average as they were at the end of 2021. And at the same time, we are seeing while wages are continuing to rise on a nominal basis that pace has been slowing. Heather Boucher of the president's council of economic advisers, so the focus is now on next week's CPI report, Jeffrey Rosenberg is senior portfolio manager for systematic fixed income at BlackRock. I think the market is being whipsawed a lot around positioning and technicals around 25 versus 50. So you have to be careful about over interpreting kind of the longer run fundamental interpretation from today's news and come Tuesday with a hot CPI report, all of this is going to get sort of thrown out and reinterpreted. Jeff Rosenberg at BlackRock. Randy krasner is a former fed governor, now a professor at the Chicago booth school, and he says a 50 basis point move is now an even bet. I think looking over the last three months, we still see a very strong labor market. I think that's what the context in which J pal gave his testimony. I think the labor market is still pretty strong. It doesn't seem to be strengthening. But if it were, then I think it would be very clear to have to be 50. Now I think it's, I think it's reasonable that the market states and even better. But I think a lot will be determined inflation number on Tuesday. Former fed governor Randy krasner, Silicon Valley bank today became the biggest American bank failure since 2008. Stocks lower the S&P down 56 down 1.4%, the Dow down 345 down 1.1% Nas stacked down 199, a decline of 1.8%. Global news powered by more than 2700 journalists and analysts and over 120 countries. I'm Charlie pellet, and this is Bloomberg. Adopt U.S. kids presents, what do you expect when you expecting? A teenager, learning the lingo. Goat, GOAT. Acronym stands for greatest of all time. As in spaghetti sandwiches for dinner, they're my fave. Dad, you're the goat. You
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"Campaign in a generation. The S&P is now down 50 down 1.3%. The Dow is down 290, a drop there of 9 tenths of 1% as stack which have been down more than 2% now down by 1.7% lower by 193 points. But ten year yield 3.7% with a two year 4.60%, spot gold right now is up 1.7% to 1860 on the ounce, West Texas intermediate crude up 1.1%, 75 56 a barrel. Bitcoin down 1.4%, but 19,951. Former treasury secretary Larry summers says the meltdown of SVB financial groups should not pose a risk to the financial system as long as depositors are made whole, and on Bloomberg, Wall Street week. He told our David Weston, the focus now shifts to next week's inflation data. We'll know a lot more after we see the CPI report, nobody should be making prescriptions with high conviction. But I'd say it's looking right now like the landing that many of us saw last fall doesn't really appear to be happening. And to hear the full interview with Larry summers tune into Bloomberg, Wall Street week, Friday, 6 p.m. Wall Street time right here on Bloomberg radio. Again, recapping stocks lower across the board with the S&P down 1.1%, the ten year 3.71%, the two year 4.60%. I'm Charlie Palatin that is a Bloomberg business flash. This is Bloomberg. Sound on with Joe Matthew on Bloomberg radio. It doesn't sound like The White House is losing sleep over SVB, even if the market's upset about it. We talked to Heather Boucher from the council of economic advisers earlier this hour, she referred us to the
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"Like, you've got to broaden out your audience, right? In terms of getting more users even on the platform. Yeah, how do they do that? That's the question. Fascinating. Thank you. If you missed it, what a cool piece. So interesting. And you can find it on the Bloomberg on our quick take streaming service. Bloomberg dot com slash quick take. It's on our Twitter feed as well. It's everywhere. Check it out. This is Bloomberg. Bloomberg radio on demand and in your podcast team. On the latest balance of our podcast, I talk with Heather Boucher of the council of economic advisers for The White House view on January's jobs numbers. The unemployment rate coming in at 3.4% lower than it's been since 1969. That certainly is an indication of good news for American families all across the country, people who are out there looking for work or finding jobs and that means economic security. And so there's a lot to like in today's report, but the other thing that I saw in the report was that although wages grew last month, the pace continues to be coming down. So we're not seeing indications that the tight labor market is driving inflation. So when you combine this with other recent data that we've seen on a solid growth number coming out of the end of 2022 for GDP, with annual inflation coming down for the past 6 months, then it looks like that maybe we can find this Goldilocks economy that everybody's been hoping we could find. So you're an economist, doctor Boucher, and the economists were sort of off on this one. I think it's fair to say, often a good way, we're not arguing with the numbers. But what do you say to the president of the United States when he says, how did this happen? How did we manage to add this many more jobs with this level of unemployment? And as you suggest, without raising the wages a lot, where is the economic model taking us here? Well, I think there's a few things. I mean, one, the president himself, when he came into office, focused on getting this economy back on track, you know, fixing addressing the pandemic issues, getting the vaccines out, getting people back to work. And I think that you see the results of that strong recovery in the labor market as we pulled out of the pandemic. Get more of this
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"The latest balance of our podcast, I talk with Heather Boucher of the council of economic advisers for The White House view on January's jobs numbers. The unemployment rate coming in at 3.4% lower than it's been since 1969. That certainly is an indication of good news for American families, all across the country, people who are out there looking for work or finding jobs and that means economic security. And so there's a lot to like in today's report, but the other thing that I saw in the report was that although wages grew last month, the pace continues to be coming down. So we're not seeing indications that the tight labor market is driving inflation. So when you combine this with other recent data that we've seen on a solid growth number coming out of the end of 2022, for GDP, with annual inflation coming down for the past 6 months, I mean, it looks like that maybe we can find this Goldilocks economy that everybody's been hoping we could find. So you're an economist, doctor Boucher, and the economists were sort of off on this one. I think it's fair to say, often a good way. We're not arguing with the numbers. But what do you say to the president of the United States when he says, how did this happen? How did we manage to add this many more jobs with this level of unemployment and as you suggest without raising the wages a lot? Where is the economic model taking us here? Well, I think there's a few things. I mean, one, the president himself, when he came into office, focused on getting this economy back on track, you know, fixing addressing the pandemic issues, getting the vaccines out, getting people back to work. And I think that you see the results of that strong recovery in the labor market as we pulled out of the pandemic. Get more of this
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"The latest balance of our podcast, I talk with Heather Boucher of the council of economic advisers for The White House view on January's jobs numbers. The unemployment rate coming in at 3.4% lower than it's been since 1969. That certainly is an indication of good news for American families all across the country. People who are out there looking for work or finding jobs and that means economic security. And so there's a lot to like in today's report, but the other thing that I saw in the report was that although wages grew last month, the pace continues to be coming down. So we're not seeing indications that the tight labor market is driving inflation. So when you combine this with other recent data that we've seen on a solid growth number coming out of the end of 2022 for GDP with annual inflation coming down for the past 6 months, then it looks like that maybe we can find this Goldilocks economy that everybody's been hoping we could find. So you're an economist, doctor Boucher, and the economists were sort of off on this one. I think it's fair to say, often a good way, we're not arguing with the numbers. But what do you say to the president of the United States when he says, how did this happen? How did we manage to add this many more jobs with this level of unemployment and as you suggest without raising the wages a lot? Where is the economic model taking us here? Well, I think there's a few things. I mean, one, the president himself, when he came into office, focused on getting this economy back on track, you know, fixing addressing the pandemic issues, getting the vaccines out, getting people back to work. And I think that you see the results of that strong recovery in the labor market as we pulled out of the pandemic. Get more of this and other conversations on the latest balance of power podcast. Listen on the Bloomberg business app, Bloomberg dot com and anywhere else you get your podcasts. Some when you go on holiday, there is no finer achievement than doing absolutely nothing. Nothing on the beach, nothing by the pool. What can kind of nowhere? And chatting about nothing. As an expedient member, you can save up to 30% when you add a hotel to your flight. So you can have a bit more money to go out there with great ambition to do absolutely nothing. Expedia made to travel. Bonds last a lifetime. Some bonds inspire confidence, and some you grow to rely
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"Chandler, chief market strategist, managing partner at bannockburn, global. Again, futures are mostly to the downside this morning, but not really dramatic falls. We did have a steep fall on Wall Street on Friday, more on that coming up. This is Bloomberg. Bloomberg radio on demand and in your podcast team. On the latest balance of our podcast, I talk with Heather Boucher of the council of economic advisers for The White House view on January's jobs numbers. The unemployment rate coming in at 3.4% lower than it's been since 1969. That certainly is an indication of good news for American families all across the country, people who are out there looking for work or finding jobs and that means economic security. And so there's a lot to like in today's report, but the other thing that I saw in the report was that although wages grew last month, the pace continues to be coming down. So we're not seeing indications that the tight labor market is driving inflation. So when you combine this with other recent data that we've seen on a solid growth number coming out of the end of 2022 for GDP, with annual inflation coming down for the past 6 months, I mean, it looks like that maybe we can find this Goldilocks economy that everybody's been hoping we could find. So you're an economist, doctor Boucher, and the economists were sort of off on this one. I think it's fair to say, often a good way, we're not arguing with the numbers. But what do you say to the president of the United States when he says, how did this happen? How did we manage to add this many more jobs with this level of unemployment? And as you suggest, without raising the wages a lot, where is the economic model taking us here? Well, I think there's a few things. I mean, one, the president himself, when he came into office, focused on getting this economy back on track, you know, fixing addressing the pandemic issues, getting the vaccines out, getting people back to work. And I think that you see the results of that strong recovery in the labor market as we pulled out of the pandemic. Get more of this
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"I talk with Heather Boucher of the council of economic advisers for The White House view on January's jobs numbers. The unemployment rate coming in at 3.4% lower than it's been since 1969. That certainly is an indication of good news for American families all across the country, people who are out there looking for work or finding jobs and that means economic security. And so there's a lot to like in today's report, but the other thing that I saw in the report was that although wages grew last month, the pace continues to be coming down. So we're not seeing indications that the tight labor market is driving inflation. So when you combine this with other recent data that we've seen on a solid growth number coming out of the end of 2022 for GDP, with annual inflation coming down for the past 6 months. I mean, it looks like that maybe we can find this Goldilocks economy that everybody's been hoping we could find. So you're an economist, doctor Boucher, and the economists were sort of off on this one. I think it's fair to say, often a good way, we're not arguing with the numbers. But what do you say to the president of the United States when he says, how did this happen? How did we manage to add this many more jobs with this level of unemployment? And as you suggest, without raising the wages a lot, where is the economic model taking us here? Well, I think there's a few things. I mean, one, the president himself, when he came into office, focused on getting this economy back on track, you know, fixing addressing the pandemic issues, getting the vaccines out, getting people back to work. And I think that you see the results of that strong recovery in the labor market as we pulled out of the pandemic. Get more of this
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"Of our podcast, I talk with Heather Boucher of the council of economic advisers for The White House view on January's jobs numbers. The unemployment rate coming in at 3.4% lower than it's been since 1969. That certainly is an indication of good news for American families all across the country. People who are out there looking for work or finding jobs and that means economic security. And so there's a lot to like in today's report, but the other thing that I saw in the report was that although wages grew last month, the pace continues to be coming down. So we're not seeing indications that the tight labor market is driving inflation. So when you combine this with other recent data that we've seen on a solid growth number coming out of the end of 2022 for GDP, with annual inflation coming down for the past 6 months, then it looks like that maybe we can find this Goldilocks economy that everybody's been hoping we could find. So you're an economist, doctor Boucher, and the economists were sort of off on this one. I think it's fair to say, often a good way, we're not arguing with the numbers. But what do you say to the president of the United States when he says, how did this happen? How did we manage to add this many more jobs with this level of unemployment? And as you suggest, without raising the wages a lot, where is the economic model taking us here? Well, I think there's a few things. I mean, one, the president himself, when he came into office, focused on getting this economy back on track. Fixing addressing the pandemic issues, getting the vaccines out, getting people back to work. And I think that you see the results of that strong recovery in the labor market as we pulled out of the pandemic
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"The defense on the murder charge. I don't know how they can defend their use of force here when Nichols was on the ground subdued, saying, okay, okay, I'm on the ground. I mean, how can you possibly justify that as a defense attorney? In most respects, you can't. What we've seen in other trials like this all the way back to the Rodney King trial, which you may remember the first time I was officers were charged, they were acquitted, then they had to go to federal court and they were convicted. The ways that these cases are sometimes defended, even with video, is that the defense kind of pulls a video apart frame by frame almost and almost brings it down to the level of individual molecules and tries to explain away what happened with the idea that the officers in this particular situation had reason to be fearful for their own safety. It is hard for me to see how that's a point that can carry today given what we see in these awful, awful videos. But that's what it will look like. That's how they will try to justify that use of force. David, these police officers were wearing body cams and knew they were being filmed, and yet they still went ahead and did this. So have the body cams and the bystander videos changed anything? It has changed things. I think those are part of the reason those cameras that we frankly have the charges other than the film, I don't think that would happen because it simply untenable if that film is out there and we know it's going to come to light at some point is untenable to just go about business as usual when you know the public to kind of see that. And we've seen that in some important cases. I mean, think of that case with the man in South Carolina who was shot in the back as he was running away. The police officer had signed off on that saying, yeah, yeah, he did this. He did that. So I had to shoot him. That guy was going back on duty the next day, and then came the bystander cell phone video. And he's in prison for murder now. So you just changed a lot. What people need to understand is that it doesn't change everything. I think there was an expectation of cameras were sold to us as this will change everything in policing. And that's just not true. They only see what's in front of the lens. There are perspective biases that are involved. And if it's not turned on, like we know in this case, we don't know what happened before those cameras came on. It's still going to leave blank spots in the record, but it takes certain aspects of a confrontation in many cases away from being disputed, you know? You can argue about interpretation later, but you can not argue that this guy wasn't beaten and beaten badly and beaten unnecessarily. So cameras are not the silver bullet that has changed everything, but they have made a difference. In the high profile cases, involving police killings. It's usually white officers and black victims. Does the involvement of black officers here change the conversation from race to systemic problems in policing? I think to some degree it does, but it really shouldn't surprise anybody that this could be 5 black officers and a department with a black chief who came in as a reformer. What you're looking at here is these 5 officers who sit into an agency, a system that allows this kind of behavior or encourages that. You layer that on top of all that we know about how the broader culture of society and the culture of police devalue and fear black people, particularly black men. There's a lot of measurement of this over many, many, many years and hundreds of studies. It is the culture and the operations of that police department that allows this kind of conduct to happen. And these officers, they're part of that structure too, whether they're white or black. Thanks, David. That's professor David Harris of the university of Pittsburgh, law school, coming up, the soccer bribery trial. This is Bloomberg. Bloomberg radio on demand and in your podcast team. On the latest balance of our podcast, I talk with Heather Boucher of the council of economic advisers for The White House view on January's jobs numbers. The unemployment rate coming in at 3.4% lower than it's been since 1969. That certainly is an indication of good news for American families, all across the country, people who are out there looking for work or finding jobs and that means economic security. And so there's a lot to like in today's report, but the other thing that I saw in the report was that although wages grew last month, the pace continues to be coming down. So we're not seeing indications that the tight labor market is driving inflation. So when you combine this with other recent data that we've seen on a solid growth number coming out of the end of 2022 for GDP with annual inflation coming down for the past 6 months, then it looks like that maybe we can find this Goldilocks economy that everybody's been hoping we could find. So you're an economist, doctor Boucher, and the economists were sort of off on this one. I think it's fair to say, often a good way. We're not arguing with the numbers. But what do you say to the president of the United States when he says, how did this happen? How did we manage to add this many more jobs with this level of unemployment? And as you suggest, without raising the wages a lot, where is the economic model taking us here? Well, I think there's a few things. I mean, one, the president himself, when he came into office, focused on getting this economy back on track, you know, fixing addressing the pandemic issues, getting the vaccines out, getting people back to work. And I think that you see the results of that strong recovery in the labor market as we pulled out of the pandemic. Get more of this and other conversations on the latest balance of power podcast. Listen on the Bloomberg business app, Bloomberg dot com and anywhere else you get your podcasts.
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"Expecting it to be. To the expansion of 5G our objective is by March 24 to cover the entire country on 5G all of which is leading investors like Steve ratner of willett advisers to take another look at opportunities in India. It does feel at the moment like India really is starting to move forward for a whole variety of reasons, including China moving back, and so India is interesting on a number of levels. And to bring us up to speed on where India is today and where it may be going for investors, welcome to somebody who knows the country terribly well. He is ruchir Sharma. He is the chairman of Rockefeller international also founder of breakout capital. We're sure great to have you back on Wall Street week. I mean, I hear a lot of talk about maybe India is the next China in terms of investment here. The next great opportunity. What's your reaction to that thought? Well, David, I guess this is a legacy of the fact that I've covered India now for nearly three decades. And I'm Charlie pelita, Bloomberg world headquarters. We checked the markets all day long at Bloomberg, a down Friday, but an up week after a red hot jobs report showed unemployment falling to the lowest since 1969, now down to 3.4%. The S&P 500 Index so still notched a weekly gain that took the index to its highest since August. Administration reaction to today's jobs data from Heather Boucher, a member of the council of economic advisers. The unemployment rate coming in at 3.4% lower than it's been since 1969. That certainly is an indication of good news for American families, all across the country, people who are out there looking for work or finding jobs and that means economic security. Heather Boucher of the council of economic advisers and an eye capital, chief investment officer Anastasia maroso says the jobs report is consistent with a soft landing for the economy. We're seeing phenomenal job creation. We're seeing job openings. There is still at 11 million. And as a result, these layoffs are not resulting in higher unemployment numbers. So as long as consumers, a fully employed, that's going to prop up the economy. I capitals attestation, but at BlackRock, senior portfolio manager Jeffrey Rosenberg says the blowout jobs report adds to the worries for fed chair Jay Powell. She said, reminder of what Powell tried to say to the market, though the market wasn't listening, that their main concern is they're not yet seeing the impact of their tightening in the labor markets. BlackRock's Jeff Rosenberg over at renaissance macro research Neil Dada the head of U.S. economics says this will not result in a shift at the fed. The onus is on the economic bears. Frankly, I don't think this is going to really change the fed's calculus. I mean, guys, it's not like they're going to come out and say, oh, we got to go back to 50. You know, all they can do at this point is just sort of extend out the 25s. Neil Dada of renaissance macro research. A jury has clearly Elon Musk of claims by Tesla investors that he defrauded them when he tweeted four and a half years ago that he was considering taking the company private and had quote funding secured to make a deal happen. The verdict in San Francisco federal court rejects allegations that the electric carmaker CEO violated securities laws and should pay billions of dollars in damages. The finding is a major vindication for Musk. Stocks declined today it was a winning week, but the S&P today down 43 points down by 1%. The Dow down 127 down four tenths, NASDAQ down 193, a drop of 1%. Global news powered by more than 2700 journalists and analysts in over 120 countries. I'm Charlie palette, and this is Bloomberg. Bloomberg radio on demand and in your podcast feed. On the latest edition of the tape podcast, the conversation with Jeffrey Cleveland have paid it in regal. It's hard to find something that I don't like in this jobs report. It's hard to, I guess, it's tough to forecast a recession when everybody's got a job, isn't it? Absolutely. I mean, at the end of the day, when we look at things, if people are employed, they're working more hours, average hourly earnings is still growing at a pretty decent clip, plus over 4% year on year. That's your spending power. And the consumer, the economy of 70 75% consumer. So ultimately, you can't be too bearish in that situation. The time where we would get much more bearish would be if aggregate incomes are dropping. And that's what you saw before 2008. And we're not seeing that here in this data. What does it mean to the fed? What does this mean to Jerome Powell, who like dove down on Wednesday? Well, it kind of explains a lot. He strode out to the podium, right? And he was getting pushback, right, for some of the reporters. And he was like, okay, you have your forecast. I have mine. All right, we'll see. And he was sort of, he didn't push back heavily in the market took that as dovishness. But, you know, now that you see this data report, it's like, oh, okay, yeah, he has his forecast. And they said ongoing increases. So a couple more rate hikes. Get you up over 5%. I think with this data, that's a slam dunk. I have heard that there is a margin of error of around 250,000. In the 2010s, we would say, you know, the number could come out anywhere between plus 100,000 and plus 300,000 and it would be within the realm of possibility. That would be accurate. So there are pretty decent error bars on this. They revise these things annually, they mark them to tax rolls. So I think this is as far as the
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"Ukraine that upended global energy markets. And now that that has been going on for quite some time, some of those costs are working their way through the economy. So it isn't just energy prices, but all the other things in the economy that use energy that now cost more. Certainly this is a problem, but that is why the inflation reduction act was so important to the president. Now, if focusing on the specific pain points that he could address around prescription drugs, healthcare, and of course moving us to clean energy. These are all ways that we can address some of the economic challenges facing families, even as we do what we can to lower inflation overall. So doctor bush as you say you're not supposed to have a Federal Reserve, you're also not responsible as far as I know for the political shop at The White House. At the same time, we do have midterm elections coming up on Tuesday. And a big issue is going to be inflation. And a lot of Republicans are using that. And this is my really simplistic question. Why isn't it possible just admit, yes, we have some inflation, but in part, it's because we did invest a lot of money to keep everybody in work because if we think back two years ago, we did not have such a healthy job because why can't why can't The White House just admit that? Well, here's the thing. When the president came into office, his number one goal was to contain the pandemic, get things under control and get people back to work. You know, for the vast majority of Americans, they get the vast majority of their income from having a job. That's the foundation of economic security. That is what we focused on. And again, the inflation is not just happening here in the United States. It's happening in all other countries that did not implement the same policies that we did. So we really do need to look to the challenges across the supply chains that we've seen. And again, the president has done so much to get those supply chains back up and running again after the pandemic. The amount of time that goods are taking to get from ships onto store shelves is now back to pre-pandemic levels. That's a remarkable achievement. Thanks to Heather Boucher of the council of economic advisers. Coming up, I talk with New Jersey governor Phil Murphy for his thoughts on the fed's latest
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"War in the Ukraine that upended global energy markets. And now that that has been going on for quite some time, some of those costs are working their way through the economy. So it isn't just energy prices, but all the other things in the economy that use energy that now cost more. Certainly this is a problem, but that is why the inflation reduction act was so important to the president. Now, focusing on the specific pain points that he could address around prescription drugs, healthcare, and of course moving us to clean energy. These are all ways that we can address some of the economic challenges facing families, even as we do what we can to lower inflation overall. So, doctor bache, you say you're not supposed to have a Federal Reserve, you're also not responsible as far as I know for the political shop at The White House. At the same time, we do have midterm elections coming up on Tuesday. And a big issue is going to be inflation. And a lot of Republicans are using that. And this is my really simplistic question. Why isn't it possible just admit, yes, we have some inflation, but in part, it's because we did invest a lot of money to keep everybody in work because if we think back two years ago, we did not have such a healthy job. Why can't The White House just admit that? Well, here's the thing. When the president came into office, his number one goal was to contain the pandemic, get things under control and get people back to work. You know, for the vast majority of Americans, they get the vast majority of their income from having a job. That's the foundation of economic security. That is what we focused on. And again, the inflation is not just happening here in the United States. It's happening in all other countries that did not implement the same policies that we did. So we really do need to look to the challenges across the supply chains that we've seen. And again, the president has done so much to get those supply chains back up and running again after the pandemic. The amount of time that goods are taking to get from ships onto store shelves is now back to pre-pandemic levels. That's a remarkable achievement. Thanks to Heather Boucher of the council of economic advisers. Coming up, I talk with New Jersey governor Phil Murphy for his thoughts on the fed's latest rate hike and election
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"A remarkable achievement. And that is part of the work that happens to lower cost facing families. But the president has been focused on this. But of course, we do have to acknowledge that the inflation reduction act was something that he had to do not in a bipartisan way. And yet that is something that is reducing cause for families on healthcare and energy prices. Doctor Michelle, we really always appreciate you joining us. And for those of you on radio, you can't see that beautiful fall shot outside The White House. It's really good to have you. That's doctor Heather Boucher. She's a member of President Biden's council of economic advisers. Coming up as voters go to the polls in Ohio, how does trade figure into their thinking? We're going to talk with Bloomberg editor in chief of Meredith's Matt Winkler. This is bounce power on Bloomberg television and on radio. Carol massar. This doctor trudy fleer here with the 5G home recovery podcast. Let's discuss a very real existential threat to Internet speed. It's a big one. Ready? T mobile home Internet. It lags. Now what is like? Is a delay in data being transmitted across the Internet? For example, you're hitting that hot drop, the parachute cuts out, you've got an unsuspecting butt near sight then leg. You are actually eliminated ten seconds ago. Nobody deserves that. So stop letting T mobile home Internet ruin everything and switch to Xfinity. Learn more at Xfinity dot com slash Timo facts. Shut up big time Jim Stevie. So take us into the economic impact of this, along with reporters and editors who help make your business week profitable. Let's dig into it with Bloomberg business week editor Joe Weber. It's the cover story of the upcoming issue, Bloomberg, business week. We did afternoons at two eastern. These are retailers that have been on everybody's radar. Those Apple numbers continuing to come in. On Bloomberg radio
Mark Levin
Economic Adviser Heather Boushey Blames Bad Economy to Ukraine
"Keen is a host on Bloomberg today As opposed to Bloomberg yesterday And he has on his program The White House economic adviser Heather Boucher Now they have all these ideological no names as economic advisers Have you noticed that But here's Heather Boucher Cut 8 go The president over the weekend said this My message to the company's running gas stations and setting prices at the pump is simple This is a time of war and global payroll Bring down the price you were charging at the pump's reflect the cost you're paying for the product and do it now Jeff Bezos came out and tweeted the following I'm sure you read it Inflation is far too important a problem for The White House to keep making statements like this You see the straight ahead misdirection or a deep misunderstanding of basic market dynamics I'm not going to accuse you of the latter I want to talk about the former Where's that messaging coming from The president has made clear that his number one goal is delivering for the American people We are in a time of crisis We are an eternal you're shipping our oil to communist China You moron Go ahead President or allies we are supporting the Ukrainian people Congress is engaged in this effort both such as nothing to do with supporting the Ukrainian people and I'm fed up with this Your policies your war on our energy system came long before defending the Ukrainian people And I support strongly defending the Ukrainian people Why are you blaming the Ukrainian people Go ahead Important priority And one of the consequences is this high price of oil because of global trends And the answer is important Everyone Heather everyone in the nation wants to know the answer to the question mister Farrell just asked you which is who is advising the president on shockingly naive price
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"We've been talking about those jobs numbers all morning long 467,000 new jobs last month instead of the 125,000 that have been expected And an upward revision of more than 300,000 jobs from the month of December as well To explain and interpret these surprising numbers welcome now back doctor Heather Boucher of President Biden's council of economic advisers So and thank you for this was on radio Heather Boucher is out in The Rain outside The White House We really appreciate you braving the elements there So give us your take on what this tells us about the economy Does it tell us anything or is it just one data point Well certainly it's just one month of data So we don't want to make too much out of it But this is a really important report This is a report that shows that we've had strong stable job gains over the past year jobs were steadier than they had first appeared but now we have revisions to the data that show that we've been creating jobs to the tune of about 550,000 a month over the past year And that is the kind of recovery that we want to see Alongside the strong wage gains and the strong economic growth that we've seen in other economic reports recently this really indicates that the labor market is back on track So a missed the upside is something you're not going to argue with very often At the same time it is a miss not just for The White House I must say Most economists had much more modest expectation And by the way people from the administration were really down talking down the numbers in advance We talked with Marty Walsh your secretary of labor Earlier that on Monday and this is what he had to say about what he expected at that point The survey was done roughly around that we could January 12th There were millions of people that were still not in work.
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"Elections Remembering our Senate institution the life and legacy of former majority leader Harry Reid with the man who served as his spokesman Jim Manley and White House national economic council director Brian deese on how The White House plans to tame inflation But first President Biden late this week nominated three new members of the Federal Reserve filling the remaining vacancies Sarah bloom Raskin as vice chair for supervision along with Lisa cook and Philip Jefferson as governors To take us through the nominations I talked to doctor Heather Boucher of the president's council of economic advisers This is an incredibly experienced and well qualified slate of candidates that the president is just nominated I couldn't be more excited about all three of them And what they bring is a wealth of economic knowledge and understanding of how the economy works They can help the fed make those decisions They can deliver on the dual mandate of full employment and price stability The other thing about this slate of candidates is that it means that the board of governors at the Federal Reserve for the first time will really have an incredibly diverse slate of people serving at the fed It'll look more like America than any other fed before and that's a really exciting thing that is the outcome of these terrific three highly qualified candidates Is the primary responsibility for getting the inflation down the feds at this point I understand the supply chain issues but that's going to take some time and it's taken some time already Is it primarily on the fed to address the inflation problem right now Well of course inflation is the purview of the fed It isn't there mandate to deal with price stability along with for employment So certainly in the Jay Powell has testified and they have talked about the actions that they plan to take to raise rates to deal with inflation in the future But I think in this particular economic.
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"We know that people are seeing some higher prices higher prices at the gas pump some higher food prices and that that's challenging for families But the evidence really points to this being about the historic pandemic about the supply chain challenges that we know that businesses have faced not just here in the United States and around the world And that is why the president and his focused so much on unclogging the supply chains making sure that the ports have the tools that they need to keep goods flowing And in fact that's what we've been seeing especially over recent weeks There's more stuff flowing through the ports now out on the West Coast than there ever has been And major retailers are saying hey our shelves are fully stocked for the holiday season So I think that there is a balance here but you know it is really important to the American people that we get that unemployment rate down and really appreciate the focus on that policy as well Thanks to doctor Heather Boucher of the council of economic advisers coming up we talked to lael branner's former boss Laura Tyson on what we should know about her That's next you're listening to balance of power on Bloomberg radio This is Bloomberg The Alzheimer's association and the ad council present the story of Tom and Levi Tom is the smartest man I know He's been a professor at two major universities He's been a teacher for over 40 years One day he told me that he was having problems in his classes I think one of the students I asked the question and he didn't remember the answer I also noticed that he's letting his class out earlier than they were supposed to let out And he was telling them that he was doing it.
Bloomberg Radio New York
"heather boucher" Discussed on Bloomberg Radio New York
"That's when the market started to enter a period of distress. So what you look for is a margin forecast peak. You know, just based on company transcript, mentions of inflation and alone and the rolling pace of inflation, the lack of wage inflation that works we saw in the jobs report this morning. All of that, in summary suggests to me that there's very looted risk to margins coming from inflation until we get to a much, much faster pace of growth. Gina Thank you so much for the appearances today, leading our coverage of Bloomberg intelligence on the equity markets and in the stock market, Gina Martin Adams here. Again the levels 3883 again I mentioned s and P 4000 is a round number down 31,090 on level NASDAQ. Are we looking at 14,000? Maybe not yet, but a nice lift to the market. As well. Lisa. One of the things that is not coming is the vics. You know, it's like a Dean Kurnit kind of question. But the vics of 21.61 really ought to be at 19 or dare I say 17. It's not well policy uncertainty, and I would say it's not policy. The Federal Reserve. It's the policy of Washington, D C, and how much that could affect markets Nice every time. I mean, honestly, if Congress passes a $1.9 trillion stimulus, what does that do to the rates market? What does that do to inflation expectations that are already at the highest level since 2018 time? Well, and again, I'd read this summer's essay is a clinic on whether you agree or disagree with Professor Summers. The idea of the dynamics that we will see forward a swell. Listen, we gotta turn to the Super Bowl. Are you going down to Tampa? I sorry. We've been so busy. Are you going to champion? You should be sorry. Yes, of course. I'm taking your private jet. We liked it that you were Actually Riley from ST Louis has a jet. She's already there Burn stakeout last night, folks, This is news you can use Was attended Yankee Spring training. Soriano was just phenomenal. You look across from Yankee spring training over to the stadium on the distance, and this is set back from the ocean in Tampa, and for those of you, I'm saying this for Pharaoh who I know is listening. John will be there, and it's important, John understand? Burned Steak House is the only reason to go to Tampa. And it's 4.3 distant miles away from the stadium. Leave the game early, because Brady I will be the least of radio haven't sealed up by second hand. Yeah, well, we'll see about that. I think that it's going to be interesting to also see some normalcy come back to the world as 2021 search to perhaps get a little bit more back to something familiar to pre pandemic disease. You know, we're getting there. It's been interesting. Whatever your politics has been an amazing 3.5 weeks. Off the inauguration. There'll be a reassessment John Farrow and speaking to the White House, Heather Boucher will join with the Council of Economic Advisers of First Look from the Bajan in administration for Bloomberg. On this job's day Fishers of 18 stay with the sand,.